Granite Construction (GVA) Receives News Impact Score of 0.19
Headlines about Granite Construction (NYSE:GVA) have been trending somewhat positive this week, according to Accern Sentiment. The research group rates the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Granite Construction earned a news sentiment score of 0.19 on Accern’s scale. Accern also gave news headlines about the construction company an impact score of 45.7136618053468 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Granite Construction (GVA) opened at 55.72 on Monday. The firm has a 50-day moving average of $51.84 and a 200 day moving average of $50.49. Granite Construction has a 12-month low of $42.59 and a 12-month high of $62.18. The company has a market capitalization of $2.22 billion, a PE ratio of 50.70 and a beta of 1.17.
Granite Construction (NYSE:GVA) last released its earnings results on Tuesday, August 1st. The construction company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.25. The company had revenue of $762.90 million during the quarter, compared to analysts’ expectations of $684.32 million. Granite Construction had a net margin of 1.61% and a return on equity of 4.80%. The firm’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Analysts forecast that Granite Construction will post $1.55 EPS for the current fiscal year.
GVA has been the subject of several recent analyst reports. BidaskClub downgraded shares of Granite Construction from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price on shares of Granite Construction in a research note on Saturday, August 26th. FBR & Co raised their target price on shares of Granite Construction from $63.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $63.67.
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In other Granite Construction news, insider James D. Richards sold 4,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $55.50, for a total value of $222,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William Howard Powell sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the transaction, the director now owns 49,858 shares in the company, valued at $2,472,956.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
About Granite Construction
Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.
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